Owens & Minor (NYSE:OMI) Shares Down 5.3% on Insider Selling

Owens & Minor, Inc. (NYSE:OMI) shares fell 5.3% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $12.86 and last traded at $12.92. 116,678 shares traded hands during trading, a decline of 86% from the average session volume of 822,495 shares. The stock had previously closed at $13.65.

Specifically, CFO Jonathan A. Leon sold 5,282 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $11.82, for a total value of $62,433.24. Following the completion of the sale, the chief financial officer now directly owns 130,822 shares of the company’s stock, valued at $1,546,316.04. This represents a 3.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analyst Weigh In

OMI has been the topic of a number of research analyst reports. Citigroup lowered their price objective on shares of Owens & Minor from $21.00 to $18.50 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. UBS Group lowered their price target on shares of Owens & Minor from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. StockNews.com lowered Owens & Minor from a “buy” rating to a “hold” rating in a report on Monday, August 26th. Robert W. Baird lowered their target price on Owens & Minor from $19.00 to $14.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 5th. Finally, Barclays cut their price target on Owens & Minor from $18.00 to $14.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $18.50.

Owens & Minor Price Performance

The stock’s 50 day moving average price is $13.71 and its two-hundred day moving average price is $15.13. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.09 and a quick ratio of 0.45. The firm has a market capitalization of $996.26 million, a price-to-earnings ratio of -21.02, a PEG ratio of 0.43 and a beta of 0.41.

Owens & Minor (NYSE:OMI) last released its earnings results on Monday, November 4th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. The firm had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.68 billion. Owens & Minor had a negative net margin of 0.46% and a positive return on equity of 14.60%. The business’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 EPS. On average, equities research analysts anticipate that Owens & Minor, Inc. will post 1.49 EPS for the current year.

Institutional Investors Weigh In On Owens & Minor

Several hedge funds have recently modified their holdings of the business. Quarry LP increased its holdings in shares of Owens & Minor by 290.1% during the 2nd quarter. Quarry LP now owns 2,099 shares of the company’s stock worth $28,000 after purchasing an additional 1,561 shares during the period. Innealta Capital LLC bought a new position in Owens & Minor during the second quarter valued at about $43,000. DekaBank Deutsche Girozentrale raised its holdings in Owens & Minor by 76.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 3,126 shares of the company’s stock valued at $43,000 after acquiring an additional 1,356 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Owens & Minor by 176.8% in the 3rd quarter. Blue Trust Inc. now owns 2,787 shares of the company’s stock worth $44,000 after acquiring an additional 1,780 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Owens & Minor by 100.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 6,071 shares of the company’s stock worth $82,000 after purchasing an additional 3,044 shares in the last quarter. 98.04% of the stock is owned by institutional investors.

Owens & Minor Company Profile

Owens & Minor, Inc, together with its subsidiaries, operates as a healthcare solutions company worldwide. It operates through Products & Healthcare Services and Patient Direct segments. The Products & Healthcare Services segment offers a portfolio of products and services to healthcare providers and manufacturers.